Chevron Corporation $CVX Shares Sold by Accretive Wealth Partners LLC

Accretive Wealth Partners LLC cut its stake in Chevron Corporation (NYSE:CVX) by 0.7% in the second quarter, Holdings Channel reports. The fund owned 9,893 shares of the oil and gas company’s stock after selling 72 shares during the period. Accretive Wealth Partners LLC’s holdings in Chevron were worth $1,417,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. GAMMA Investing LLC increased its stake in shares of Chevron by 27.3% in the 1st quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock worth $5,408,000 after acquiring an additional 6,928 shares during the last quarter. Appleton Partners Inc. MA increased its stake in shares of Chevron by 12.6% in the 1st quarter. Appleton Partners Inc. MA now owns 3,684 shares of the oil and gas company’s stock worth $616,000 after acquiring an additional 411 shares during the last quarter. GAM Holding AG increased its stake in shares of Chevron by 24.3% in the 1st quarter. GAM Holding AG now owns 11,193 shares of the oil and gas company’s stock worth $1,872,000 after acquiring an additional 2,187 shares during the last quarter. First American Bank increased its stake in shares of Chevron by 5.0% in the 1st quarter. First American Bank now owns 85,779 shares of the oil and gas company’s stock worth $14,350,000 after acquiring an additional 4,072 shares during the last quarter. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Chevron in the 1st quarter worth $118,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of Chevron stock opened at $153.12 on Monday. The business has a 50-day moving average of $156.03 and a 200 day moving average of $147.96. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a market capitalization of $264.58 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period last year, the business posted $2.55 EPS. Chevron’s revenue for the quarter was down 12.4% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is 88.03%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CVX shares. Morgan Stanley started coverage on Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 price target for the company. Wells Fargo & Company started coverage on Chevron in a report on Friday. They set an “overweight” rating and a $190.00 price target for the company. Melius Research started coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Scotiabank increased their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Finally, Barclays lowered their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $165.25.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.